SoftBank Group Corp’s venture capital fund has invested $400m in Vuori Inc, the California-based maker of leggings and sports bras said on Wednesday, valuing it at $4bn.
Vuori, founded in 2015, plans to expand its Western European and Asian markets next year and open more than 100 U.S. stores in the next five years.
Activewear makers have seen strong demand over the past year, as people stuck at home due to the pandemic joined the home-fitness bandwagon, creating a surge in demand for everything from yoga pants to sports shoes.
Free Webinar: The Future State of M&A: Gaining the Competitive Edge with Digitalization
- Common barriers GPs face during the M&A process
- How AI and machine learning can optimise the M&A process
- The outlook for M&A in 2022
SoftBank’s investment is one of the largest in a private apparel company, Vuori said, adding it was the second investor to back the company after Norwest Venture Partners’ investment in 2019.
Source: Reuters
Can’t stop reading? Read more
Blackstone strikes $6bn+ deal to acquire energy data firm Enverus
Blackstone strikes $6bn+ deal to acquire energy data firm Enverus Blackstone has agreed to acquire...
Uber seeks private equity backing to scale robotaxi ambitions
Uber seeks private equity backing to scale robotaxi ambitions Uber is in discussions with private...
Apollo and Butterfly raise $527m to drive Qdoba’s franchise-led growth
Apollo and Butterfly raise $527m to drive Qdoba’s franchise-led growth Butterfly Equity has closed...